SCAR Proceeding Owner-Occupancy Requirement

The Court of Appeals recently held that a single-family home is not “owner-occupied” for purposes of qualification in a Small Claims Assessment Review (SCAR) when such home is occupied “by an owner’s relative but not by the owner” “during the relevant tax period.” In so ruling, the court limited SCAR proceedings’ availability to fact-patterns that clearly establish occupancy by the owner.

Read Andrew Lieb's full article published in The Suffolk Lawyer.

SCAR Proceeding Owner-Occupancy Requirement

Listen To Podcast of Last Week's 'Eye on Real Estate' Radio Show - Andrew Lieb Joined Panel

On Saturday May 2nd, Andrew Lieb, Esq. joined Dottie Herman's 'Eye on Real Estate' radio show on AM970. Topics discussed included:

• Latest Real Estate Trends
• Inheritance
• Reverse Mortgages
• Commercial Real Estate

Eye on Real Estate - Hour 1

Eye on Real Estate - Hour 2

Estate Deals - Free CE from Lieb School at Newsday in Melville

Instructor: Andrew Lieb, Esq

Date: June 4th, 2015 at Newsday in Melville

Course Summary: Estate sales offer a unique opportunity to help the grieving by doing your job professionally. Starting with speaking the language of the Surrogate’s Court, this course will empower the real estate broker / salesperson to assist the Executor / Administrator in liquidating real property in order to satisfy debts of the estate. Additionally, disputes between beneficiaries and with the fiduciary, sales forced by the court, and foreclosures incident to the probate process will be discussed. Lastly, the student will be exposed to the overlay of brokerage and executor’s commissions where an Executor / Administrator is expressly exempt from the Real Estate License Law for Brokerage.

To Register: Login to Your Lieb School Account and Click "Enroll" or "Join Waiting List"

Deal Killers - Don't Let Your Deal Die - Free CE from Lieb School at Viana Hotel in Westbury

Instructor: Andrew Lieb, Esq

Date: May 12th, 2015 at Viana Hotel & Spa in Westbury

Course Summary: You get the client, spend months looking for the perfect deal, find it, negotiate it and send it to an attorney to close it. Then, what? It dies. Have you ever wondered if you could do anything differently to have more of your deals close? Learn some of the main reasons that deals die like issues with the Sales Agreement, Title, Escrow Deposit, Closing Date, Financing / Contingencies and the Seller’s Concession. Next, learn how to proactively save your deals and earn a commission. Knowledge is commission.

To Register: Login To Your Lieb School Account and Click "Enroll" or "Join Waiting List"

Consumer Step-by-Step Guide for the Mortgage Purchase Process

The Federal Government’s Consumer Financial Protection Bureau (CFPB) recently released a Home Loan Toolkit, a step-by-step guide through the mortgage purchase process, for consumer use. This is a must use tool for real estate professionals to create realistic expectations for their clients and customers. 

This toolkit helps consumers to:

1. Calculate affordable monthly mortgage payments;
2. Understand the importance of credit scores to obtaining better mortgages;
3. Pick their mortgage type;
4. Choose the best down payment amount;
5. Shop with different lenders;
6. Understand and know about issues that may arise;
7. Choose a mortgage closing agent; and
8. Understand the overall closing process.

This Home Loan Toolkit has fillable text fields, buttons, and list boxes, allowing consumers to update the toolkit as they work through the process. It is designed to be much easier and more accessible version of the existing Settlement Cost Booklet that is currently provided to consumers and should be used in connection with the new (and simpler) Loan Estimate and Closing Disclosure forms that will be effective on August 1, 2015.

Though creditors are required to provide the toolkit to all potential homebuyers, the CFPB encourages that real estate agents understand and provide this toolkit to their clients as well. The more informed the parties, the smoother the real estate transaction will go.